Newmark Grubb Knight Frank (NGKF) announced today it has successfully advised and represented Cherryman Industries in the strategic relocation of its Midwest distribution center to 2413 Prospect Drive in Aurora, Illinois from the Indianapolis market.
Cherryman Industries is a Los Angeles-based company that manufacturers high-end environmentally friendly office furniture. Needing to improve efficiencies and be closer to Chicago due to the growth of its furniture sales locally, Cherryman Industries selected NGKF to lead the charge of finding the firm more suitable space for its regional distribution center.
NGKF’s Adam Marshall, senior managing director, and Mark Deady, director, represented Cherryman Industries. In addition to site selection responsibilities, Marshall and Deady assisted in the firm’s financial analysis, time-sensitive negotiations, and related matters, ultimately helping Cherryman to secure a 160,000-square-foot, long-term lease at 2413 Prospect Drive in Aurora.
“We conducted an exhaustive and wide geographic search for Cherryman Industries’ new Chicago-area distribution facility,” said Marshall. “Ultimately, this facility in Aurora was selected due to its move-in ready condition as well as its strategic location. It offers immediate interstate access to I-88 which is great for their regional distribution purposes.”
Marshall and Deady represented Cherryman Industries and David Prell of CBRE represented the building owner, DCT Industrial. Cherryman Industries will take occupancy of the new facility this summer.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
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